A champion can also be a senior decision maker within a large
enterprise who provides the clout and support for a successful
spinout. Many companies often sit on proprietary IP and leave its
commercial potential unrealized because it doesn’t fit with their
product lines or existing markets. However, with a little vision
and persistence from few committed intrapreneurs, a new company
can be born.

And then there are those entrepreneurial individuals who, having
themselves gone through the school of hard knocks to develop,
validate and commercialize a disruptive new technology, look for
an exploitable innovation which they know is worth their sweat
equity until some kind of successful exit is achieved. They
become consultants who help out those intrapreneurs mentioned
above or university researchers with technology transfer.

Champions in whatever form are essential to the commercialization
ecosystem. They are often also mentors, investors and, perhaps
most importantly, advocates who take that leap of faith and make
doors open at that critical juncture to snatch success from the
jaws of failure.

In the coming weeks we’ll feature perspectives from a number of
folks who fit this mould, but let’s first put the role of
champion in its proper context. For established enterprises in
particular fighting to keep their heads above water in a volatile
global marketplace, taking this kind of initiative isn’t one of
those “nice to do when we have the time and money” things. It’s
becoming a competitive necessity.

“Open innovation is a paradigm that assumes that firms can and
should use external ideas as well as internal ideas, and internal
and external paths to market, as the firms look to advance their
technology,” Chesbrough wrote. “The boundaries between a firm and
its environment have become more permeable; innovations can
easily transfer inward and outward. The central idea behind open
innovation is that in a world of widely distributed knowledge,
companies cannot afford to rely entirely on their own research,
but should instead buy or license processes or inventions (i.e.
patents) from other companies. In addition, internal inventions
not being used in a firm's business should be taken outside the
company” such as through licensing, joint ventures and spin-offs.

Tapping into an outside base of knowledge

You don’t need to look any further than these recent headlines to
see open innovation in action in a big way.

That article also highlighted Volvo’s open innovation initiative
and featured Hans Persson, the automaker’s senior vice-president
of technology and innovation.

“Open innovation is extremely important to cope with the really
dramatic changes we foresee in the market, particularly in Asia,”
Persson said. “For speed and execution and drive to markets, you
need to be very connected to the outside base of knowledge.”

“Just look at an example from the oil industry,” he wrote.
“Following the Exxon
Valdez oil spill, there was an immediate need to separate the oil
from seawater. The issue wasn’t resolved until 10 years later—not
by an expert from within the oil industry but rather by a person
with expertise in the construction industry with insights into
the manipulation of near-solid cement during large pours.
Ultimately, this demonstrates that more and more successful
innovations utilize know-how originating beyond industry
boundaries and that companies need to go beyond simple
outsourcing (e.g., just asking an industry expert) to harness
expertise from outside areas.”

Dushnitsky also pointed to open innovation competitions, such as
the X Prize, which “allow businesses to pay for a
proven solution rather than incurring huge R&D expenses that
may in turn fund failed innovation efforts.”

Viable business vs. science project

It all comes down to this: In today’s global marketplace,
established companies must look far and wide to gather up every
competitive advantage they can. For engineers, researchers and
nascent entrepreneurs, this can create a wealth of opportunity to
secure funding, mentorship, contact with influential industry
leaders and tastemakers. The onus is on business leaders to
embrace the principals of open innovation and appreciate the
valuable role they can play as champions.

But inventors and entrepreneurs can’t just sit back and wait for
opportunity to come knocking. If they want to realize the
commercial potential of what they have at hand, they must
actively engage with their marketplace to validate their idea,
ensure it is addressing a clear market need and connect with the
champions who can help them move ahead.

Recommended For You
Powered by Sailthru

Championship: Opening up the ivory tower

This is the 22nd article in a continuing series that examines the state of the ecosystem necessary to successfully bring technology to market. Based on dozens of interviews with entrepreneurs, venture capitalists, angel investors, business leaders, academics, tech-transfer experts and policy makers, this series looks at what is working and what can be improved in the go-to-market ecosystem in the United States, Canada and Britain. We invite your feedback.